BUHARI RELEASES 30,000 TONS OF MAIZE FROM NATIONAL RESERVES TO FIGHT FOOD COST HIKE
To fight the sharp rise in food prices in the country, President Muhammadu Buhari has approved the release 30,000 tons of grains from the national reserve to animal feed producers.
The President disclosed this in a statement released on Wednesday, September 3.
“We are very mindful of the challenge of high food prices, at a time when the economy is already in a slowdown caused by the global coronavirus situation, and are doing everything in our power to bring down the prices of food items across the country,” Buhari said.
The President assured the citizens that the hike in food prices will be over soon.
In the statement released via his official Twitter account, the President said his administration is having discussions with stakeholders to tackle the exploitative behaviour of middlemen and other factors that triggers the unreasonable hike in food prices.
“We are also engaging with food producers associations and groups to tackle the issue of exploitative behaviour by middlemen and other actors, which is one of the factors responsible for the high food prices being experienced,” the President said.
Following the outbreak of the Coronavirus pandemic which forced the country to lockdown economic activities, there has been a sharp increase in the price of staple foods in the country, which might be compounded by the recent hike in fuel price.